Entain to Reposition Esports for Growth, Unikrn Shutting Down
Published: Oct 7, 2023 - Last Updated: Oct 12, 2023
Oct. 12, 2023 Update – Unikrn shared an update via its X profile @UnikrnCo saying the company was ‘powering down operations.’ The statement informed registered players that their ‘accounts will remain open’ and they will ‘be able to withdraw any funds whenever.’
- Friday, Oct. 13 will be the last day Unikrn will accept deposits.
- Friday Oct. 20 will be the last day players will be able to place their bets on the site.
Unikrn said that now the product will ‘beome part of the existing leading sports brands within the Entain Group,’ confirming our report about the shift to a B2B service offering.
Just days after Real Luck Group Ltd, operators of Luckbox, announced the immediate termination of the B2C side of the business and the intention to shift fully to a B2B model before the end of 2023, the esports betting industry is about to see an identical move coming from Entain.
In an email, seen by EsportsBets, Entain, through its PR agency, has informed all Unikrn partners that it has taken the strategic decision to “reposition their esports offering,” scaling back their B2C business vis-à-vis Unikrn.
Here’s everything we know so far.
Unikrn, acquired by Entain in 2021, and relaunched in Dec. 2022, is an esports betting company operating in Brazil, Canada and Chile. The company also provides a skill-based game betting product, uMode.
Entain believes this move to be the best way to “deliver on the strategy and growth plans” formulated by the company. At the end of September, Unikrn announced that its esports betting product was going to be CS2 betting-ready.
In March 2023, BLAST Premier and Unikrn signed a multi-year partnership. The deal saw Unikrn become to official global betting partner of the event organizer. It offered fans of Counter-Strike a “safe secure and dedicated betting platform.”
Entain will begin to market the ‘industry-leading offer’ developed by Unikrn, seeing in the product ‘significant opportunities to leverage these capabilities through existing global brands.’
Unikrn No Longer Accepting Deposits
Beginning the week of Oct. 9, Unikrn will cease accepting deposits from customers marking the initial tangible step of the transition. Players who are registered on Unikrn’s platform will receive notifications about the closure of their accounts.
Entain has committed to returning any remaining balances to the respective account holders.
Entain has also committed to honoring all existing agreements and commissions owed to partners on players at the point of closure. This underscores Entain’s dedication to maintaining integrity in their business relationships.
Image: Unikrn
